Financial Support for the Boda Boda Sector through the Hustler Fund

The Kenya Kwanza government promised to leverage the financial support that will be provided to the boda boda sector, through the Hustler Fund, to develop the nascent electrical vehicle (EV) and motorcycle assembly industry.

• In December 2022, the e-wallet feature, part of the e-driving licence rolled out by the Kenya Kwanza government can be used to tap into financial services. The e-licence can serve as a platform for a wide variety of payment and non-payment services, including fines, insurance claims, insurance premiums, buying spare parts and toll payments.
• The Hustler Fund has since become operational, and is a source of financing in the boda boda industry however, the Fund has been criticized for being ineffective in supporting Kenyans, with varied lending amounts and terms.